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Cover Story: AT1 capital plays minimal role, unlikely to hit stability of Malaysian banks and funds

PRIOR to the Swiss government’s decision on the UBS Group AG-Credit Suisse Group AG merger, which led to the write-down of the latter’s CHF16 billion (RM77 billion) Additional Tier 1 (AT1) capital, or contingent convertible (CoCo) bonds, not many in Malaysia would have heard of these hybrid securities that have the characteristics of both debt and equity.

Malaysia , Switzerland , Singapore , Swiss , Malaysian , Angus-salim-amran , Suisse-coco , Awang-adek-hussin , Bhd-maybank , Shamsiah-mohd-yunus , Holdings-bhd , Bank-negara-malaysia

LTAT sells 112.56 million shares in Affin Bank to Sarawak state entity

KUALA LUMPUR: Affin Bank Bhd has confirmed that the Armed Forces Fund Board (LTAT) has divested 112.56 million shares in the bank to the State Financial Secretary Sarawak for RM221.74 million via a direct business transaction.

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Zahid seeking to have corruption charges dropped due to 'new evidence'

(NST) - Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi is seeking to have his charges for misappropriating RM31 million of funds from his foundation Yayasan Akalbudi (YAB) dropped.

Zahid's lawyer Hamidi Mohd Noh, during the hearing of the case today, said the defence has submitted a repre

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Pandemic blues

Faced with an uncertain outlook, many research firms have downgraded Pharmaniaga, which has triggered Practice Note 17 (PN17), to a sell. But the company's fortunes could change for the better if it manages to reverse its inventory impairments

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Boustead shares bought up on takeover offer, most active in early trade

KUALA LUMPUR: Boustead Holdings Bhd's stock trading, which was suspended in the afternoon session yesterday, restarted at 84 sen a share at the opening bell.

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Boustead shares surge over 30% to 85.5 sen, matching LTAT takeover offer price

KUALA LUMPUR (March 3): Shares in Boustead Holdings Bhd surged over 30% to 85.5 sen on Friday (March 3) morning, matching Lembaga Tabung Angkatan Tentara (LTAT)’s offer price to take over the conglomerate.

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LTAT to take Boustead private at 85.5 sen per share

KUALA LUMPUR: Lembaga Tabung Angkatan Tentera (LTAT) has issued a notice on conditional voluntary takeover offer to Boustead Holdings Bhd for the 40.58% stake or 822.51 million shares it does not already own in the company at 85.5 sen per share.

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Takaful Malaysia in Affin Islamic Bank tie-up

PETALING JAYA: Local takaful provider Syarikat Takaful Malaysia Keluarga Bhd (STMKB) and its wholly owned subsidiary, Syarikat Takaful Malaysia Am Bhd (Takaful Malaysia Am), has inked a bancatakaful partnership with Affin Islamic Bank Bhd, a full subsidiary of Affin Bank Bhd.

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Takaful Malaysia enters five-year bancatakaful arrangement with Affin Islamic

Syarikat Takaful Malaysia Keluarga Bhd has entered into a five-year bancatakaful service arrangement with Affin Islamic Bank Bhd starting Jan 1, 2023, with an option for the bank to extend another five years.

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Boustead Holdings declares first interim dividend in four years

Boustead Holdings Bhd has announced an interim dividend of 1.5 sen for its financial year ending Dec 31, 2022 — its first in four years.

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